Debt Management – Watch Out for Bank Fees!Written by Charles Essmeier
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check their bank statements carefully. Automatic teller machines are certainly convenient, but their use is now mandatory at some banks for no-fee transactions.
Something else consumers should watch out for is overdraft fees. Many banks now offer overdraft protection; you can use your debit card or checkbook to make purchases that exceed balance in your account. In years past, bank would have returned check or denied debit purchase; now they let purchase go through. This comes at a cost; average fee for an overdraft charge is $25. Should you exceed your balance by a mere $10, $25 charge amounts to a 250% interest rate on short-term loan of ten dollars. The overdraft business is a good one; banks nationwide earned about ten billion dollars last year on overdraft charges alone.
There are many other situations that banks use to tack on fees, and some of them aren’t all that obvious. In order to make sure that your bank isn’t charging you more than you’d like for your business with them, make sure that you read your statement carefully. If not, “convenience” of banking could come at a high price.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.com, a site devoted to information regarding home equity lending .
Investment Techniques For Creating Passive IncomeWritten by Mika Hamilton
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Creating a Passive Income gives you more time and money to spend on Wealth Creation
Passive income is generated when you are making an income without having to work for it. For example if you own a business, that you have setup to run completely on its own, or if you own shares in a company that pays you annual dividends, or perhaps a piece of real estate that generates capital or rental returns.
All these investment techniques earn you passive income. because you are not limited by amount of hours you can spend per day working on them. Instead of working for money, you now have money working for you. This is true essence of any effective wealth creation strategy. Maximum return for minimum effort.
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